REALTORS® generally expect prices to increase over the next 12 months at a modest pace with a median expected price increase at about 4 percent, according to the latest REALTORS® Confidence Index. Low inventory compared to demand is expected to continue to buttress prices, as well as the declining share of distressed sales in the market.
The states with the most upbeat expected price increases of 5 to 7 percent are California, Oregon, Nevada, Georgia, Florida, and Hawaii (red). In states with booming economies like Washington, North Dakota, Texas, Michigan, the DC-Metro Area, and NY, the expected price increase is about 3 to 5 percent (orange). In the rest of the states, the expected price growth is less than 3 percent (blue).